The state is requiring merchants to accept cash denominations of $20 and under and prohibits them from charging extra to accept cash. The law, which goes into effect in March, comes as merchants are responding to the Trump administration's abrupt cancellation of penny production.
It's hard to sell a big bank something regardless of the tech company's size. But for early-stage startups with only a handful of employees and a product still under development, the challenge is far greater than for seasoned tech vendors.
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Credit card company is seeking to secure online payments using tokens based on consumers' biometric information.
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In August's roundup of top tech news: Banks and retailers wrestle with the unseen consequences of artificial intelligence, Mastercard lays off roughly 3% of its workforce and more.
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The payments platform is preparing for expansion to a market that has a fast-growing real-time transaction rail, making the country a hot spot for international investment.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Wells Fargo plans to pilot a digital advice platform in early 2017, according to a high-ranking executive at the wirehouse.
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Bank of America, the second-biggest U.S. bank by assets, said second-quarter profit fell 21% as it took an accounting charge and posted a decline in wealth management revenue.
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The U.K.'s mobile-first Starling Bank has received a banking license from the Financial Conduct Authority and Prudential Regulation Authority.
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By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on.
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Tenants have threatened to suspend payments during the pandemic to pressure officials into providing rental assistance, but the effects on multifamily loans would compound concerns about servicers' liquidity and, ultimately, lenders' performance.
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The National Credit Union Administration this week will consider an interim final rule regarding its Central Liquidity Facility and changes to real estate appraisal requirements.
As banks continue investing in technology to boost productivity, they aren't losing sight of their call centers' human sides. Even as AI grows in importance, agents are more important than ever
New York State Gov. Kathy Hochul has codified how buy now/pay later lending will operate in the state, taking a heavier hand as the Consumer Financial Protection Bureau loosens its grip under President Trump.
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The National Credit Union Administration is addressing two of the main reasons why new institutions aren't being formed — making it easier for the organizers to raise the required capital and easing the burden of the application process, says Todd Harper, the agency's chairman.
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Edward M. Lamont's biography of his grandfather, Thomas W. Lamont, who advised presidents and extended credit to foreign nations as JPMorgan & Co.'s chief executive in the first half of the 20th century, will be rereleased in paperback this fall. Given that more concise, analytical histories of the banker have been published since, this long tome may have been better left collecting dust.
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Banking crises always recur. But time and again, bankers have been shown to operate on the assumption that good times are permanent.
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In a relatively mild oversight hearing in the House Financial Services Committee Tuesday morning, regulatory heads at the Federal Reserve, Office of the Comptroller of the Currency, National Credit Union Administration and Federal Deposit Insurance Corp. outlined plans for reduced capital requirements and debanking enforcement.
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South Plains Financial agreed to pay $105.1 million in stock to acquire a seven-year-old Houston community bank in its first M&A foray since 2019.
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Former Comptroller of the Currency Eugene Ludwig has written a book called The Mismeasurement of America that lays out the shortcomings of the standard economic data that U.S. government and businesses use to make decisions, and how this data obscures the truth about how low-income Americans are actually faring.
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Democratic lawmakers, led by Senate Banking Committee ranking member Elizabeth Warren, D-Mass., press 21 institutions for fee data after a federal agency halted disclosure requirements.
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The CEO spoke with American Banker about the company's plans for AI, blockchain, taking its digital wallet global and making PayPal and Venmo work together for the first time.
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Financial institutions see an opportunity to nab scale after years of tepid dealmaking, but investors are pushing back against such efforts out of concerns about shareholder value.
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Former U.S. Bank veteran files for a de novo charter to launch VALT Bank, a tech-heavy business lender targeting 'digitally demanding' small businesses.
Supplies of the one-cent coin are plummeting. Businesses can't give exact change. Banks are struggling to resupply them. And amid it all, the federal government has said almost nothing.
The 23rd annual ranking of women leaders in the banking industry.
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